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Atlis Motor Vehicles Inc (NASDAQ:AMV) shares are trading higher by 180% to $7.50 Wednesday afternoon after the company reached 2 gigawatt-hours' worth of battery capacity in the form of customer demand.
What Happened?
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Atlis Motor Vehicles says this volume of sales interest in the company's battery pack technology speaks to the market's demand for robust energy solutions and the company's development of quick charging infrastructure.
"Efficiency in packaging and superior heat distribution through advanced immersion liquid cooling make Atlis battery technology a clear solution to the challenges facing customers and partners across a wide range of industries," stated Mark Hanchett, Atlis Motor Vehicles' Founder and CEO.
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"As the first US company to manufacture batteries stateside, we've set out to deliver consistent performance, regardless of conditions, and it is clear the market is responding. This strong demand is encouraging; now it's up to our team to deliver."
According to data from Benzinga Pro, AMV has a 52-week high of $243.99 and a 52-week low of $2.26.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.